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Notes on tech

Notes on technology, business, enterpreneurship, economy, markets along with interesting general tidbits.

Sify acquires travel company

6/05/2006 05:53:00 AM, posted by anand

Sify announced the acquisition of a leading online ticketing company Globe Travels (The site looks quite goofy, though). As I had written earlier that the online travel sector is heating up in India. This acquisition marks Sify's entry into the fast growing online travel business, particularly e-ticketing, the category with highest revenues and fastest growth in online ecommerce today. According to a press release issued by Sify:

The potential for the growth of travel & ticketing arrangements online in India cannot be underscored. India today is considered to be one of the fastest growing airline markets in the world in terms of new airlines and the number of aircraft on order. According to the Internet & Mobile Association of India (IMAI), the number of Indian Internet users is slated to grow from the current 38.5 million to over 100 million by 2007-08. As Internet users grow, the number of people making travel arrangements online is expected to increase substantially in future. IMAI has projected a total of $ 262 million in online transactions for 2005-06, of which 57.85% or $ 152 million is expected in the travel and travel related sectors. Airline ticket sales online are expected to account for $ 88 million, railway ticket sales will follow with $ 63 million. The growth of online sales of air tickets has been given a further impetus by the IATA deadline of December 07 for 100% online ticketing in India, with the airlines promoting online tickets with special fares and benefits, as well as alliances.
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